Crossmark Global Holdings Inc. Decreases Stake in Macy's, Inc. $M

Key Points

• Crossmark Global Holdings cut its Macy’s stake by 64.2% in Q3, selling 132,222 shares and retaining 73,711 shares worth about $1.322 million.
• Macy’s raised its quarterly dividend to $0.1915 (annualized $0.77), a ~4.3% yield with an ex‑dividend date of March 13.
• Analysts have a consensus rating of “Reduce” with a $20 price target; coverage shows 1 Buy, 11 Hold and 2 Sell, while the stock trades near $17.97 (market cap ≈ $4.78B).

Crossmark Global Holdings Inc. lessened its holdings in shares of Macy's, Inc. (NYSE:M - Free Report) by 64.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,711 shares of the company's stock after selling 132,222 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in Macy's were worth $1,322,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Cresset Asset Management LLC acquired a new stake in shares of Macy's in the third quarter valued at about $365,000. Victory Capital Management Inc. grew its stake in Macy's by 0.8% during the 3rd quarter. Victory Capital Management Inc. now owns 400,101 shares of the company's stock valued at $7,174,000 after acquiring an additional 3,352 shares in the last quarter. Journey Strategic Wealth LLC acquired a new stake in Macy's in the 3rd quarter valued at about $185,000. American Century Companies Inc. raised its holdings in Macy's by 6.6% in the 3rd quarter. American Century Companies Inc. now owns 10,764,293 shares of the company's stock valued at $193,004,000 after acquiring an additional 669,729 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in Macy's in the 3rd quarter worth approximately $758,000. Hedge funds and other institutional investors own 87.36% of the company's stock.

Macy's Stock Performance

Macy's stock opened at $17.97 on Tuesday. The firm has a 50 day simple moving average of $21.19 and a 200-day simple moving average of $19.89. The stock has a market cap of $4.78 billion, a price-to-earnings ratio of 10.63 and a beta of 1.51. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.25 and a quick ratio of 0.18. Macy's, Inc. has a 1-year low of $9.76 and a 1-year high of $24.41.

Macy's Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a dividend of $0.1915 per share. This represents a $0.77 annualized dividend and a yield of 4.3%. This is a positive change from Macy's's previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, March 13th. Macy's's payout ratio is 43.20%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on M. TD Cowen restated a "hold" rating on shares of Macy's in a report on Thursday, December 4th. Guggenheim initiated coverage on Macy's in a report on Tuesday, December 9th. They issued a "neutral" rating for the company. Evercore boosted their price objective on Macy's from $14.00 to $21.00 and gave the stock a "cautious" rating in a research note on Friday, December 5th. UBS Group upped their target price on Macy's from $8.00 to $9.00 and gave the company a "sell" rating in a report on Monday. Finally, Jefferies Financial Group assumed coverage on Macy's in a research note on Wednesday, January 14th. They issued a "buy" rating and a $27.00 target price for the company. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target of $20.00.

Insider Buying and Selling

In other Macy's news, EVP Danielle L. Kirgan sold 85,000 shares of Macy's stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $23.92, for a total value of $2,033,200.00. Following the sale, the executive vice president owned 51,161 shares in the company, valued at $1,223,771.12. The trade was a 62.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.77% of the stock is owned by corporate insiders.

Macy's Profile

Macy's, Inc is a leading American omnichannel retailer operating under the Macy's brand, as well as specialty divisions Bloomingdale's and Bluemercury. The company's retail portfolio encompasses full-line department stores, fashion-focused specialty outlets and a high-end beauty chain, offering consumers a wide array of apparel, footwear, accessories, cosmetics and home furnishings. Through its integrated network of physical stores and digital platforms, Macy's seeks to deliver a seamless shopping experience that blends in-store service with online convenience.

The company's product assortment spans men's, women's and children's clothing, beauty and personal care products, housewares and home décor.

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